The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
This just reminded me of a Greek holiday I had with my parents way back when....
As a spotty teenager, I was on our private hotel beach eyeing up the local beauties as you do at that age, when I spotted something partly buried in the sand that looked like a bank note. I craftily covered it with my foot whilst glancing around to make sure that nobody was looking, bent down and picked it up and to my utter delight and amazement it was in fact a 500 Drachma note (no Euro back then LOL)!
As my parents were paying for everything on holiday I didn't have any idea of it's value in good old GBP, so I thought that I'd treat myself to this fantastic divers watch that I'd had my eye on at the local jewellers every time we passed by...
So off I go to the jewellers proudly flashing my 500 Drachma note to the guy behind the counter, whilst also pointing to the watch I wanted in the window. He didn't speak a word of English but I could tell by his reaction and laughter that something was up!!
He then opened up his watch price catalogue, showed me the watch I wanted in there and it's price was 50,000 Drachma!! Turns out my 500 note was only worth around £1.30 :)
To add insult to injury he sent me on my way with a sweet and a badge displaying his shops name on it!
Just thinking out loud here....as the historic drills at Molaoi are from way back when, then hopefully for Price and his shareholders the quoted figures are not going to turn out to be a big fat Greek disaster like my watch story above LOL.
You may scoff, but it wasn't that long ago that Greece was in absolute financial turmoil...the Government there has quite a colourful history of corruption and the famous back handers, so can you really take seriously the Molaoi drill figures that the Greek Gov't has spouted?
And once again my learned friends, why was it only Price and some local fisherman who were bidding for the tender?
If it was as good as Price thinks it is then where were all of the other juniors bidding on this 'outstanding' Zinc mine?
Of course Price will tell you it's the best thing since sliced bread, that's his job, but investors in Rock are basically feeding his hobby and the lavish lifestyle that comes with being on the BOD of a junior mining company.
I love the way Price keeps saying that they're building value.
It's a bit like me saying that I have a house which would be worth £5 mill if it was in the centre of London, but put that same house in the centre of Accrington Stanley and you'd be paying punters to take it off your hands!!
Value is one thing...if Price could wave a magic wand right now and get the gold outta Plateau (not the copper at Copperhead though as that's crap grades and would be a wasted exercise), then his perceived value might just get Rock to 1p, but how do they get it out of the ground?
Only way is through a mining feasibility study, and getting a major involved, but these juniors are ten a penny and the big boys will only cherry pick the few exceptional ones that come along once in a blue moon.
Rock is no GGP that's for sure, so Price can bang on about his value until he's blue in the face, but at the end of the day Rock is just another junior EXPLORATION company and nowhere near DEVELOPMENT stage. His value is worthless as we stand and investors are beginning to work this out for themselves.
OMM, looks like you're fighting a losing battle here bud, shareholders are selling up yet again today and leaving in their droves and getting out whilst there's still a manageable loss on the table.
The chances of a major plumping for Rock with those copper grades are slim to none, and slim just left the building and is on the first plane outta here to Greece!
Jorc at Plateau worth over 1p you say? Any offers from the big boys yet?
Molaoi to save the day then is it LOL!
Also, just checked with my friend and they bought Rock off the back of your ramping early last July at 1.14p.
If they were still holding today, then they would be sitting on a loss of around 65%!
Hemo over the same period has lost around 35%...so maybe you chose the wrong one to ramp!
How ironic, there's more liquidity in this thread than there is in Rock!
It would also appear that we have a new King, the old King has abdicated (as predicted, he would "lose the dressing room"), all Hail King Fred (just check out their post tick ups in here).
As a member of the opposition, I'm more than happy to be King Fred's bell boy in terms of 'tick up' ranking, but my predictions are becoming eerily accurate, so maybe on that front I'm more adept...
Welcome to the 30's...20's inbound...still just enough time for damage limitation.
Just saying...IMO...but DYOR!!
Nice to hear from you OMM, it's always good to get both sides of the story, and also good that both of us seem to have supporters looking at the tick ups on our posts.
Y
Your research means zilch though until the SP proves it and unfortunately for you and your crew, it looks like the ship has already sailed pal.
Figures are one thing, and many junior miners will have much better figures than Rock, which proves that calculations are worthless until a major cherry picks the fortunate few and it then becomes feasible.
Also, I personally wouldn't blame Brexit, Covid or the current war for Rocks poor performance.
Brexit was yonks ago and Rock has had periods where it's risen since then.
Same with Covid, Rock wasn't unduly affected by that either, and had a few golden memories to hold onto.
And the SP was already in the low 40's when war broke out, so definitely can't blame that one!
As I've been saying, the reason for the disastrous SP right now is because every one of Rocks recent RNS's has failed to impress.
The grades were awful and the BOD decision making has also been terrible. They need a Churchillian type approach rather than a Bojo one lurching from one disaster to another.
As one of the posters mentioned earlier though, my friend who sold up and lost has to take accountability for their own actions, which is fair enough, but when the crap hits the fan (if it hasn't already), will all of the amateur Geo's on here and Telegram come out and admit that they were horrifically wrong? Doubt it very much due to their insatiable ego(s) and very thick skin(s)!
Good to hear from you Strummer J and a very interesting post from you there, thanks for sharing your opinions, you always write very constructively.
Regarding your initial query - whether I'm in, never been in, or in then out, I can confirm that I have not, and would not ever invest in Rock with even a small portion of my funds for reasons explained previously.
However, a close friend of mine has been massively affected (close to emotional breakdown) by their financial loss in Rock after being brainwashed into investing in something they knew nothing about.
Being totally new to this game they basically relied on the 'knowledge' and 'generosity' of some of the 'experts' doing the rounds, and being very gullible they made the cardinal sin of investing a very large sum thinking that it was a 'no brainer', and the easy way to riches.
Fear of missing out and greed can get the better of anyone. Sad but true, and we've all probably been there at some point in our investment lives....I certainly have.
They may have been involved in one of the Telegram groups at some point, it's probably quite easy to work that one out from my previous posts.
They bought in near the top (around 1.10p I believe) off the back of much hype last July, and finally bailed in early January for a hefty 50%(ish) loss after much soul searching.
They realised that every RNS was being sold into rather than the other way around, so took their max pain and damage limitation whilst they could (good decision considering current SP).
My posts were more of a warning to anyone else who may be thinking of investing without doing any proper due diligence, whilst also pointing out that Rock is fast becoming a dud share IMO.
Always make investments backed up by your own research first and foremost, rather than relying on the opinion of a total stranger(s).
Apologies also if I come across as bitter and twisted, but I'm more angry that my friend has been shafted (partly their own fault, but mainly down to the rampy charlatans who drew them in), and is now suffering the consequences.
But as you say Strummer J, life's too short to be faffing around in here, so I'm off out for a Mother's Day meal in the sunshine with a glass of red!
I really do wish any investor still in Rock all the best of luck though.
Sad to think it was just a few months ago that the 'expert' Geo's in here and/or TG were guaranteeing Rock would soon be over 1p and never look back, to infinity and beyond they would say!
When it was in the 90's anyone who said it would fall into the 80's was scorned upon as if they were mad.
When it was in the 80's anyone who said it would fall into the 70's was scorned upon as if they were mad.
You can see where I'm going with this - even though the current SP is 0.4p, it can and will go much lower IMO.
Anyway, that long boring wait for the big fat Greek RNS let-down will surely be too much for some to take whilst the SP falls into the abyss in the meantime.
Liquidity in Rock is non existent, and here's why:
If it did have the much alluded to 'potential', then by now real Geo experts & market professionals alike would be beating the door down to get in and loading up to the max at these prices, right? SIMPLY NOT HAPPENING!
It would seem that apart from the Rock BOD, a group of brave soldiers and their Sergeant(s) are the only ones left standing. They still believe out of sheer desperation, whilst praying they're not next in the firing line.
Dreams of a better life, be that simply some extra cash, or even the finer things, that craved after car, maybe a yacht, or some fantasy island to retire to, have already been shattered unfortunately.
Although I may come across as a know it all negative Nelly, I do actually hope that Rock comes good for the genuine folk who will be sitting on hefty losses.
But my post is also a friendly wealth warning, a shot across the bows if you like, to never take investment advice from some random, so called expert individual(s) harbouring insatiable ego(s), on a discussion board like this and/or Telegram, as they may actually have a hidden agenda IMO!!
One in particular seems to be running some sort of cult whereby his flock are required to send proof of their Rock shares! Is that even legal? I do wonder if anyone refuses, are they castigated and cut off from the omniscient inner circle and thrown in the gutter? Absolute madness, and I feel for all the good folk affected, still in or already out.
We've all heard the saying when a football manager 'loses the dressing room', and the same analogy applies to the above mentioned individual(s)...at some point very soon, right now even, their game will be up, and every ramble they spout will become tiresome, scorned upon even, and have no gravitas anymore, until thankfully their day in the sun is finally over for good, closely followed by their broken, deflated ego(s).
***Sometimes taking the loss on the chin and moving on is better for your health and wellbeing than being trapped in a dead end share where the hope will destroy you in the end***
When Rock is in the 30's you'll wish you'd sold in the 40's and when it's in the 20's you'll wish you'd sold in the 30's. Last chance saloon for damage limitation...WAKE UP AND SMELL THE COFFEE.
Wh
Dear oh dear, more and more sells since THAT company defining RNS and poor old Rock is clinging onto the 40's by the skin of it's teeth. Next stop 30's any day now, quickly followed by the 20's.
Even I might be tempted to get some when it goes there, but NO, I would never buy into a recommendation from some random amateur wannabe Geo(s) on here and/or Telegram telling me that it's a no brainer! Don't want to be trapped in limbo until the grim reaper comes to fetch me you see!
In his interview Price suggested that the Motherlode exists at Copperhead, but I'm not convinced. Got to hand it to him though, he's a great orator and a passionate guy, so I can see how easy it is to be drawn in by his charm and charisma, but please don't be fooled, there's no guarantee that Daddy's source is down there - 10% chance at best IMO!
Just think about it, if they're certain it's there then why didn't they drill deeper whilst they had the chance with the rig already in situ at Copperhead?
I'll tell you why, it's because they didn't want to take a big risk of there being nothing noteworthy down there, so they dangle a carrot instead, before moving onto the next one, same as they always do.
All of this whilst dithering at Plateau...then there's the tantalising mention of Copperdome (another world class porphyry apparently)! I can only imagine the mental torture being a Rock shareholder? Shambolic!
1)Copper grades of 0.19% are pathetic and way lower than any commercially viable mines that I know of, but apparently the sheer size of the deposit will make up for that...NOT!
2)As it stands 120,000 tonnes @ 0.19% is a paltry figure and of no commercial value whilst it's in the ground, even less so without any sign of the Rio's etc getting onboard.
3)No way is any major going near that grade EVEN IF Rockfire scale out from future drilling, as there are much better opportunities out there with much less feasibility risk for the big boys to buy into.
4)IMO, Rockfire are now pinning all of their hopes on the Zinc at Molaoi, hoping, praying that the historic drills are accurate and don't turn out to be a big fat Greek disaster!
5)Even if the zinc grades 'eventually' prove to be decent, the logistics and commercial feasibility will always make it a no no, so until it's outta the ground, it's worthless. Same as Rockfire's other projects then!
6)They do love to piggy back off historic drills don't they! There's probably a very good reason why no other junior has gone near some of these projects for 30/40/50 years, but I'm sure you can work that one out for yourselves!
So, all of a sudden it's crunch time for the Boys at Rock, and the pressure is starting to show. Unless their next RNS is fantastical, and very soon, then any diehard investors left on the scrapheap will sell up and begone in a
Just been reading back through some of the comments in this chat and for some reason the jumper analogy one caught my eye.
Love the analogy, but the said jumper which might have been desirable several months ago is now probably on sale at a 50% discount because it's deemed unfashionable today!
Several months is a long time in the world of AIM (and politics), and I stand by my post yesterday regarding the macroeconomic outlook looking very bleak indeed. This uncertainty has and will continue to feed into stocks such as Rockfire as these are the very high risk ones that investors won't want to be involved in when the proverbial hits the fan.
The whole marketplace has changed in that time, junior miners are so unloved that I actually feel pity for them.
You can bang on and on about Rockfire and how it should be valued at so and so, but unless the market gets onboard, which it hasn't, then the SP is only going to languish and drop further unfortunately, especially given the poor macroeconomic outlook as mentioned before.
'Positive' RNS after RNS proves that point, the recent one regarding Copperhead highlighting that fact even more!
This was going to be 'the one' that really excited the market, the proof that Rock had found a world class porphyry, but guess what happened?
The SP went up the usual 5% as rainbow chasers bought in, followed by the inevitable sell off soon afterwards when they realised that was their lot! Now it's back to square one and the slow drip, drip into the thirties!
If you're hoping that the Greek Zinc project is going to ignite the SP, then I feel that you're going to be disappointed, same as above, same old story.
They can Jorc it to their hearts content, but until these Jorcs turn into commercial viability for the big boys (a big IF by the way) then Rockfire is stuck in limbo for potentially years and years unfortunately.
You also say that the geology doesn't lie, but more importantly the markets don't lie either and Rockfire just hasn't captured anyone's imagination apart from the already very wealthy BOD and your loyal group of Telegram soldiers by the sounds of things.
The BOD are gallantly trying to add value for the shareholders, but at what cost?
Years and years of uncertainty in a very high risk area during one of the worst economic periods known to mankind with only a small chance of success!!
Nah, no thanks, not for me, but I wish anyone still in Rock all the best.
Anyone who bought in around the 1p mark will now be sitting on a massive loss
Many of these unfortunate investors would have been suckered in by the constant overbearing efforts of certain individuals on here and TG to try and justify their self obsessed egos with regards to this share.
I would also hazard a guess that a lot of these investors have invested way beyond their means on the assumption that this was going to be a quick cash cow!
Maybe a year or so ago, Rock would have seen a decent rise off the back of recent news, as the market was a cash cow back then and every share and his dog was being pumped up to crazy levels by the boy & girl racers who were reveling in the easy money that was being made.
But now, let's face it, these same boy & girl racers have left the AIM market in their droves, and are splashing their funds elsewhere, or maybe even not at all.
Without their cash sloshing around, a lot of AIM shares are dropping like stones into the cesspit of disappointment and purgatory where there's no hope and more importantly, no hope of return.
With the bleak outlook of unemployment, rising living costs, repossessions etc taking precedence for the next few years, these once brave men and women now have more important things to worry about than gambling with the AIM snakes and sharks! The macroeconomic factors look very bleak indeed.
Whatever you decide, stick or twist, rot or sell, GLA.
So, so quiet, so very quiet in here considering that yesterdays Rockfire RNS announced a maiden Jorc at Copperhead which was supposed to send the Rock SP flying up, up and away and onto the promised land!!!!
Alas, the Jorc did not have the expected or desired affect to the SP that was bandied about recklessly by some individuals on here and TG over past months.
Within this much anticipated RNS, holes 4 & 5 didn't even get a mention, so they were obviously unsatisfactory or not exciting enough to be included. Rockfire just about managed to scrape together a Jorc out of desperation in order to stimulate the SP, and failed miserably! I'm so fed up now of hearing the word 'potential' constantly being mentioned in the same breath as Rockfire....this supposed 'world class' copper porphyry at Copperhead is more akin with 'scraping the barrel class' right now, and no major will go anywhere near this without confirmation of said world class porphyry which entails much more costly drilling by Rockfire in a desperate attempt to prove up this over inflated talk about potential. With the said further drilling comes massive risk of further disappointment and an ever decreasing SP if there happens to be no Holy Grail down there in Copperhead land.
In short, this Jorc was supposed to send the SP straight to 2p and over, and yet we're still at 0.4p!!!!
The winning of the Greek Zinc project was supposed to send the SP straight to 2p and over, and yet we're still at 0.4p!!!!
Plateau has a gold jorc which should now have the SP well over 1p, and yet we're still at 0.4p!!!!
Taking the above into account, the Greek project and any future Jorc there is also unlikely to have the desired share price impact as the past doesn't lie!
Funnily enough, David Price (CEO) has just put out a video in another attempt to stimulate the market, but even he seems to have accepted that it's becoming a losing battle with regards to the share price (some very big sells already today and we're back down to where we started before the earth shattering RNS)!
He also confirmed that it would be "a very long time until Copperhead will be commercially viable", so unless you're very patient and have a penchant for VERY HIGH RISK investments then this is probably not going to get you any sort of return for a long, long time, if at all, especially when taking into account the high risk of failure that most junior miners encounter at some point down the line - 'lifestyle company' comes to mind here!
As can now be seen, potential means diddly squat in the junior miners sector.
If anything, my guess is that this will soon be in the 30's, possibly even mid/high 20's over the next few months, and those stuck will not have many options left open to them other than selling up to free themselves from this disastrous situation that they find themselves in.